Icahn Enterprises Shares Fall After US Attorney’s Office Requests Information (Bloomberg)
Icahn says doesn’t believe inquiry will have material impact. Request comes on heels of Hindenburg Research report. Icahn Enterprises LP, under pressure from a short seller, fell as much as 20% after disclosing that federal prosecutors had reached out seeking information. It also released a letter responding to claims by short seller Hindenburg Research in the most detail yet since Icahn’s stock came under scrutiny May 2. It said it had “the liquidity, the strategy and the know-how” to fight the investor.
Hedge Fund Hestia Wins Four Seats on Pitney Bowes Board (The Wall Street Journal)
Hedge fund Hestia Capital Management won four seats on the nine-person Pitney Bowes board as the investor involved in turning around GameStop now seeks to overhaul the strategic direction of the century-old shipping-services company. Pitney Bowes said Tuesday a preliminary vote count showed shareholders backed four of the five board nominees put forward by Hestia, the third-largest shareholder in the company with a 9.1% stake. Investors re-elected three other directors, including Pitney Bowes Chief Executive Marc Lautenbach, and selected two directors nominated by the company, according to the preliminary results.
HCP Focus Sells Longest-Held Holding (Hedge Nordic)
Stockholm (HedgeNordic) – HCP Focus Fund, a long-only equity hedge fund maintaining a concentrated portfolio of 12 companies benefiting from the digital revolution, sold its longest-held holding in the portfolio: Amazon.com. HCP Focus, which advanced 30 percent in the first four months of 2023 to recover some of the 53 percent decline incurred in 2022, had been invested in Amazon since the fund’s inception in late 2012.
Image by Gerd Altmann from Pixabay
Hedge Funds Trim Exposure to Bank Stocks After March Buying Spree – Research (Reuters)
Hedge funds cut their exposure to financial stocks in April after buying discounted equities in the March market turmoil that followed the failure of Silicon Valley Bank and Signature bank, according to S&P Global Market Intelligence data. Hedge funds reduced exposure to financial stocks including banks and trading companies by 1% after a March increase of 5.5%, the data showed.
Meet Nicola Peltz, the 28-Year-Old Billionaire Heiress and Actress Who’s Married to Brooklyn Beckham (Business Insider)
Nicola Peltz, one of billionaire Nelson Peltz‘s 10 children, made headlines in 2022 for her lavish Palm Beach wedding to Brooklyn Beckham, the eldest son of world-renowned soccer player David Beckham and designer Victoria Beckham. But she’s also making headlines for her work as an actress, most recently in “Welcome to Chippendales,” a true-crime series that premiered on Hulu in November.
